H.C. Wainwright has reaffirmed its buy recommendation for Acadia Pharmaceuticals (NASDAQ: ACAD) with a raised price target of $37.00, up from its prior valuation. The firm also highlighted the completion of patient enrollment in the Phase 2 RADIANT study, with data expected in September or October following a 30-day safety follow-up period.
Acadia’s shares were trading at $29.65 at the time of the update, roughly 25% below H.C. Wainwright’s new target and near the 52-week high of $30.96. The stock has gained 18.7% over the past six months, outperforming broader biotech benchmarks. Wall Street’s consensus rating stands at 1.76, with price targets ranging from $17 to $49, according to InvestingPro.
The European Commission’s approval of Acadia’s DAYBUE (trofinetide) for treating neurobehavioral symptoms of Rett syndrome in patients aged five or older provided a key catalyst. The approval covers all 27 EU member states, as well as Iceland, Liechtenstein, and Norway. DAYBUE is the first and only FDA-approved treatment for Rett syndrome in the U.S., and its European launch is expected to drive near-term revenue growth.
Acadia reported total revenue of approximately $308 million in Q2 2026, exceeding the consensus estimate of $296 million. The beat was attributed to stronger-than-expected Daybue sales and stable contributions from Nuplazid. Several other analysts have also revised their outlooks in recent weeks. Oppenheimer increased its price target from $23 to $25 while maintaining a perform in-line rating. RBC Capital raised its target from $36 to $37, citing Daybue sales of $125 million. UBS lifted its target from $45 to $49, citing improved odds for remlifanserin in Alzheimer’s-associated psychosis, now estimated at a 50% probability of success.
Canaccord Genuity maintained a buy rating with a $36 price target, projecting combined sales of Nuplazid and Daybue to reach $1.7 billion by 2028. InvestingPro’s Fair Value analysis also indicates the stock is undervalued, with 10 analysts having revised earnings estimates upward for the upcoming period.
